by God » May 11th, '10, 10:00 pm
Goldman Traders Had a Perfect Quarter
Tuesday, May 11, 2010
THE WALL STREET JOURNAL
Goldman Sachs Group Inc. (NYSE: GS - News) traders didn't lose any money at the end of each trading day during the first quarter, a first for the Wall Street firm, which typically loses funds on at least a handful of days in the period.
Traders raked in more than $100 million daily for 35 days and made no less than $25 million daily during the rest of the three-month period, according to a regulatory filing.
The trading results during the first quarter handily beat results from longtime rival Morgan Stanley (NYSE: MS - News), which said it lost as much as $30 million daily on four days during the quarter. Morgan Stanley made between $60 million and $90 million on each of 16 days during the quarter, and between $210 million and $240 million on one day.